Bitcoin Could Become Circulating Currency; Chinese Listed Company Involved in Bitcoin Cooperating With CNFOL.com

These stories are is on Netease today. (Google Translation below)

First, one discussing the odds of Bitcoin becoming a mainstream currency.
Bitcoin Past and Present: adequate dispersion are likely to become the currency in circulation

The person interviewed is not Xu star, but Xu Mingxing, founder of okcoin.
ZDNet: how do you see bitcoin legal risks?

Xu star: bitcoin just born in the beginning, because the transaction means convenience, there are a lot of people use bitcoins to buy drugs or guns, which give the left a very good impression. But in fact dollars will definitely go buy more, any kind of valuable things are likely to be used in this place,

ZDNet: When did you start with domestic bitcoin?

Xu stars: very early, at just a few cents a bitcoin when it was a lot to start.

ZDNet: What people in the United States concerned about bitcoin?

Xu star: many top investors are concerned about this industry, but there are two main factions, one is the year Facebook 's investment team, there is a once invested in Baidu , Tesla's individual investors.

ZDNet: bitcoin is how generated?

Xu star: Some people think that Bitcoin is the product of sophisticated technology, but technology is only the Bitcoin technology. It was born in the background is the global inflation. The currency is the man's first shell, then start with precious metals, is now basically a sovereign currency. Before the advent of the national monetary sovereignty is no inflation, the state treasury if you want to expand only three ways: looting, mining and increasing circulation to collect taxes. In that era country if you want additional money is very difficult.

In World War II, most countries began to adopt the Bretton Woods system, simply means that the currency must be linked with the gold reserves. But in fact in the last three decades, this system has basically been broken, national currency to follow countries' own theories, but the basic theory is that the amount of money in circulation needs. But this is not so clear.

This makes a lot of countries have experienced serious inflation, followed by a computer algorithm mathematicians have tried to simulate the properties of gold, the gold of the main attributes are the following: distribution of scattered, difficult as well as distribution and mining exploitation without the will of the people as the main .

Bitcoin can be well simulated gold these three attributes.

ZDNet: how about the history of virtual currency?

Xu star: Historically, there have been a variety of virtual currency, but eventually failed, mainly because the government does not like virtual currency, which the company is vulnerable to government pressure. But Bitcoin algorithm is completely open, even bitcoin designers can not control, bitcoin release came out in accordance with the characteristics of the network to run automatically, the designer can not freely accessible.

ZDNet: there are other virtual currencies do?

XU Ming: This is a natural question, since there bitcoin, why not have A Coin, B credits appear? But it is actually very difficult, because Bitcoin computing power has passed to establish a monetary confidence. Now there are dozens of world virtual currency, but in addition Bitcoin currency other than only one line is also a slight value.

ZDNet: there is high profits do?

Xu star: Nissan bitcoin now the world's largest number of companies in Shenzhen, China, a day just by mining bitcoin able income 300,000 yuan.

ZDNet: Governments the world's attitude bitcoin?

Xu star: European government is very supportive, publishing many policies, mainly due to the euro has been suppressed by the dollar, European governments hope this comeback dollars. Germany passed a few bills, a bill was held Bitcoin citizens can deposit tax exemption, the second is Bitcoin can be used as accounting figures, the UK is in the country to do bitcoin exchange.

The U.S. government is certainly not like Bitcoin, the attitude of the United States now is to strengthen the supervision on bitcoin. China currently has a virtual currency management approach is the virtual currency can be traded, no problem, but can not be used to pay for the real thing.

But now only ten billion U.S. dollars bitcoin scale industries, but also did not lead to government level attention.

ZDNet: What are the benefits of Bitcoin?

Xu Stars: The first is a hedge against inflation, the second is the flow of low cost.

ZDNet: Okcoin doing now?

XU Ming: We are doing two things, the first thing that Bitcoin exchange, and the second is that we are doing bitcoin wallet, because in order to use bitcoin must use professional software, we want them to become easy to use.

ZDNet: There are many similar exchanges?

Xu star: At least dozens, but the scale is not large. Before the advent of this form in the exchange, Bitcoin often through Taobao transactions.

ZDNet: If you now want to enter the mining industry, as well as the opportunity to do?

Xu star: current trends in the world of mining machines shipped to China, because China's electricity cheaper. Mining industry, but now there is a lot of fraud. According to current computing power, a machine about two months before starting to make money, but now the mining machines are using futures model, that the first payment, the machine only after two or three months, but then the calculation of bitcoin capacity has basically doubled, and many people find this machine does not come back even electricity are earned.

ZDNet: Bitcoin has an upper limit will affect development?

Xu star: bitcoin is split, in theory, can be divided into eight decimal places, if someday 21 million is not enough, you can move the position of the decimal point, and now looks for hundreds of years do not appear bitcoins shortage phenomenon.

ZDNet: from a real means of transaction bitcoin How far?

Xu Stars: Now look, about Bitcoin transactions are mostly conducted around the investment instruments, to become the trading currency from the real gap still very far away. This is mainly because the price of bitcoins now floating large and too concentrated. Bitcoin adequate dispersion such as the future price will be stable, when there may be an opportunity to become currency.

This second story is about Chinese companies getting involved in Bitcoin, which should set off your "bubble alert." Not necessarily that Bitcoin is in a bubble just yet, but that companies are trying to use it to pump up their stock prices, just like companies did with the Internet in the late 1990s. In one sense then, it is very positive for Bitcoin because it shows the currency has some real attraction.

A股公司掘金比特币引热议 需警惕市场风险
A-share companies bitcoin hot lead Nuggets need to guard against market risks (This translation is funny, it would be more accurate to say the companies are digging for gold rather than "hot lead nuggets")
Voice of the economy, according to reports, "Bitcoin" described as "Princess Cinderella." Worth 3 cents from each birth year, was up to 250 dollars or so. With GEM companies five interconnected and gold online collaboration, "Nuggets" Bitcoin business, triggering a new round of investment bitcoin concerns. The industry Reminder: Bitcoin and volatility violent rally this year, market risk increasingly alarming.
Bitcoin is an open-source P2P software produced by a network of electronic money. Each generation of a bitcoin, consumer go through the P2P network to record and inform the whole network, there is no possibility of forgery. Bitcoin is the limited amount of scarcity, will be permanently restricted to 21 million within.

Currently, bitcoin chain mainly involves two types of activities: first, through the trading platform based on real transaction prices; Second, production and sale of "Bitcoin mining machine" - devoted to calculate bitcoin mining machinery, computing performance much higher than ordinary computers.

Five Internet companies listed on GEM and the 4th announcement that gold online collaboration for bitcoin related advertising business, bitcoin mining machine, bitcoin private investment management business. Listed companies involved in bitcoin Nuggets news caused uproar moment.

In the Financial Review person, early investors in the old terminal bitcoin seems GEM companies involved in bitcoin is not accidental, since this year's rally and volatility bitcoin shocking.

Old side: each $ 10 earlier this year, now risen to more than 200 U.S. dollars; broke a new high today, probably 268; contrast rose early 20 times more volatile than A shares and futures mostly up.

Ellis: Many people interested in bitcoins, hackers, the financial sector, VC and so on. China's payment site is still a mess, but in China easier to produce digital mining equipment, such as Shenzhen, south side of doing this is cheaper in the United States to do this is too expensive.

For Bitcoin market mixed: Support voice that bitcoin is no specific central issuer, the supply operation in full accordance with a mathematical formula to growth, and a cap. This means that Bitcoin has created a more strict "gold standard" system is an evolutionary performance.

Financial writer Song Hongbing : Basic trends is the social flat, we do not need a central server for information transmission, but the point of interaction, bitcoin is not necessarily the final shape of the monetary system, but this is certainly representative of the direction of social evolution orientation.

By bad-mouthing the same lot. In May this year, the U.S. government froze the world's largest Bitcoin exchange Mt.Gox of two bank accounts, followed by a number of transactions and transfers bitcoin site was closed down. Analysts say the main reason Bitcoin market triggered by rising against the dollar and concerns about the impact of real monetary system. As an early investor, the old end-to-bitcoin increasingly worried about the future.

Old side: Last week, the domestic one platform on foot, and more than 1000 million in cash, more than 300 investors lose everything. Buy a company, the house, as well as dividends and rental returns; hold bitcoins only one reward: speculative returns. That is even more the next higher price home, like flower drum pass game. There is no better application of trading scenario, all people are only interested in one thing: it is against the U.S. dollar and the RMB price how? Wang Siyuan (China Radio Network)

The companies involved are 35.com. (300051) and CNFOL.com. It's not yet entirely clear what the business will be, but with the online partner, probably at least a trading site. CNFOL is the 401st largest website in China.

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